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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Popular Pub/Restaurant
(Food & Beverage , Bars, Taverns, and Night Clubs)
Somerset County , NJ
Listed Price: $ 325,000
Listing ID: BAR704

Listing DetailsGross Revenue: $ 500,000
Cash Flow: $ 114,000
FFE: $ 275,000 (Included in Price)
Inventory: $ 1,500 (Included in Price)
Reason for Sale:

The owner is retiring from this food service industry.


Training & Support:

The owner will remain post-closing for a minimum of 30 days in order to supply an appropriate transitional period to the new operator.


OperationsYear Established: 2010
Days & Hours of Operation: Mon.-Sun. 11am-2am
Non-owner Payroll: $ 8,800
Employees: 6
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 5000
Monthly Rent: $ 3,100
Square Footage: 1665
Facilities:

The facility consists of 1,665 square feet with an attractive image and in a free-standing building on a county road. This opportunity is in Northern New Jersey, Middlesex County, which consists of various highly populated communities with continued demand for this industry.


SummaryBusiness Description:

Long standing bar restaurant in a wonderful area of Middlesex county, New Jersey. This industry does not require government agency approval to purchase, however it does require approval for the liquor license. This business has six full & part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $8,800. The business has an assignable commercial lease which expires 2022-01-01 plus additional options, with a monthly rent of $3,100, plus real estate taxes, and rent security $5,000. Also, an option to purchase property at $350,000. The business assets have an estimated value of $275,000, based on replacement cost of licensing and equipment. The business is active seven days per week, with hours from 11:00 am to 2:00 am. The sale includes a certificate of occupancy from the particular municipality and the required state or city licenses to conduct its day to day business. The 2017 yearly gross income is $500,000 plus discretionary income and the business has a yearly net income of $114,000 based on an owner operator and prior to debt service. The sale has been priced based on a multiple of the net yearly income and asset value which includes a valuable liquor license. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity.


Competition:

To the best of our knowledge due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.


Potential Growth:

The business presently has a limited marketing plan, no web site and if improved can further develop the business bottom line net income.


Financing/Terms:

Can be considered to a qualified buy with an appropriate down payment.